A recent study from the University of Michigan has shed light on a critical challenge facing the global transition to electric vehicles: the inability of copper mining to keep pace with the growing demand.that copper, a crucial component in electricity generation, distribution, and storage, is fundamental to the successful implementation of policies aimed at promoting the adoption of EVs.
According to GlobalData, there are over 709 operational copper mines worldwide, with the Escondida mine in Chile being the largest, producing an estimated 882,100 tons of copper in 2023. Despite this seemingly huge output, the rapid pace of electrification globally is outstripping the mining industry’s ability to keep up. In fact, the authors state that, “We show in the paper that the amount of copper needed is essentially impossible for mining companies to produce.
The researchers analyzed 120 years of global data on copper production, dating back to 1900, and modeled the likely copper production for the remainder of the century. They compared this with the projected copper requirements for the US electricity infrastructure and vehicle fleet to transition to renewable energy. The study concluded that renewable energy’s copper needs would exceed the current production capacity of copper mines.